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Apr 13, 2010
MBFC part of next growth era
By Joyce Teo
SINGAPORE is helping to shape a new era in Asian finance, thanks to its well-regulated but business-friendly financial regime, said Finance Minister Tharman Shanmugaratnam on Tuesday.
And, as a 'work, live and play' destination, the $4 billion Marina Bay Financial Centre (MBFC) is poised to support Singapore in its next era of growth, he said at the topping-out ceremony for MBFC's 50-storey Tower Two.
'Asian finance is back to growth, and Singapore is seeing enhanced growth as a gateway to the area,' he added.
MBFC, being developed in a joint venture comprising Cheung Kong (Holdings), Hongkong Land and Keppel Land, has attracted key tenants like Barclays Capital and Standard Chartered Bank.
Said CBRE executive director (office services) Moray Armstrong: 'In the long term, the uplifted quality of the office stock in Singapore will be an important platform for the city's ongoing development as a major global financial centre.'
Also, the office development opportunities at Marina Bay beyond MBFC will place Singapore in a highly competitive position, he said. 'There are few major global cities which have such a rich reservoir of prime developable land directly adjacent to the existing CBD,' he added
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